Swiss Prime Site successfully completes its rights offering

Niederer Kraft Frey advised Credit Suisse, UBS, J.P. Morgan and Zürcher Kantonalbank in connection with Swiss Prime Site’s rights offering of up to 4,467,432 new registered shares that launched on 11 September 2018. With a real estate portfolio of around CHF 11 billion, Swiss Prime Site is Switzerland’s leading SIX-listed real estate company focusing on commercial real estate.

The subscription period for the rights offering ended on 26 September 2018, at which time 97.7% of the rights had been exercised and 4,364,239 new registered shares had been subscribed for. The remaining 103,193 new registered shares not subscribed for during the rights exercise period were placed in the market. In connection with the rights offering, Swiss Prime Site raised approximately CHF 320 million in net proceeds that will be used to support its ongoing growth strategy and for general corporate purposes. The newly issued registered shares began trading on SIX today, 28 September 2018.